New funding will be invested behind proven drivers of growth in the UK, Europe and the USA
London UK, 24 October 2024 – Vyntelligence (Vyn®), a category leading, short video-AI platform that is transforming frontline workflows, is very pleased to announce a milestone growth capital investment from Octopus Ventures (OV). Vyntelligence accelerates the installation and optimises the management of distributed assets in the renewable energy, utilities, retail and telecoms industries. It simplifies field service, contractor and consumer interactions across multiple countries in the UK, EMEA and the USA.
Octopus Ventures is one of the largest and most active venture capital investors in the UK and Europe. This milestone agreement with OV, will enable Vyntelligence to scale at pace in sectors deploying and upgrading over a trillion dollars of new infrastructure, and seeking to improve customer experience. Together with Vyn’s fast growing organic revenue, these funds will contribute to new enhancements to the industry focused Vyn® Generative AI capabilities, as well as support expansion in new sectors and geographies, particularly in the US.
“At Vyn® we are turbo-charging frontline productivity by eliminating typing, form-filling and unnecessary field visits. Our next-gen, intelligent video-data-capture and collaboration platform simplifies and speeds up interactions for all players involved – customers, contractors and colleagues – on a single platform” said Kapil Singhal, CEO and Co-founder of Vyntelligence.
“We are delighted to have the support of Octopus Ventures. They will be a great partner for us, helping to realise the tremendous growth potential we see for Vyntelligence. We are already serving 80% of top UK infrastructure & utilities’ retail service providers with our software, supporting faster, smarter and cheaper customer service and capital delivery. This is critical at a time when new technologies and climate considerations are driving industries to invest in new infrastructure, drive upskilling and improve customer affordability – all of which is why companies are choosing Vyn® to partner with them on this journey.”
Uthish Ranjan, Partner at OV, said: “We are thrilled to partner with Vyn, whose impressive AI-driven platform and data capabilities are solving critical challenges for some of the world’s largest energy, utility, and telecom businesses. During our diligence, we were impressed with how customers we spoke to explained how deeply integrated the product was with their respective workflows, and the measurable ROI they were delivering across several use cases. Vyn has a large opportunity in front of it, and we are excited to support the team on the next leg of their journey.”
About Vyntelligence
Vyntelligence is the market leader in accelerating transformation with mobile video and AI-first solutions for field workflows and customer experiences for the world’s largest companies in the utilities, renewable energy, and telecom industries. Vyn® purposefully balances profit and the planet by saving un-necessary field visits, upskilling people and making lives safer at work.
With tens of billions of dollars of assets already remotely assured on Vyntelligence and deployments in over 20 countries, we are proud to partner with companies such as EDP, SSE, Enel Green Power, Openreach, Lyntia, Zayo, Cadent Gas, Northumbrian Water, Severn Trent, Vodafone and UK Power Networks.
Named Gartner Cool Vendor 2023, Vyntelligence enables users to capture complex information in the field (surveys, reports, inspections, issues, claims) as short video data, asynchronously, replacing cumbersome form filling and time-consuming calls. Vyntelligence’s automated Gen AI and computer vision powered labelling and recommendations extract value from this video data by predicting next best actions, flagging potential risks early to accelerate infrastructure deployment and improve customer response time by eliminating unnecessary site visits and unplanned works.
Vyn® has been granted US patents for Smart Data Capture, Ranking and Delivery of Insights. Ranked in the top 25 in the 2021 Deloitte Technology Fast 50 UK list.
Vyn® SmartVideoNotes® and Vyntelligence are registered trademarks of humanLearning Ltd.
About Octopus Ventures
Octopus Ventures, part of Octopus Group, is one of the largest and most active venture capital investors in the UK and Europe. We’re on a mission to invest in the people, ideas and industries that will change the world.
We back entrepreneurs ─ from the first cheque their business receives, right through to IPO. We manage £1.8bn and are investing in more than 200 businesses, focusing on the companies solving three of the world’s biggest problems: those building a sustainable planet, empowering people, and revitalising healthcare.
We know what it takes to build a successful business. We support founders through our strong teams, sector expertise and deep networks, using our people and talent to help them build a better tomorrow.
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